|Overview:||Credit analysts estimate the degree of risk involved in lending of monies or extending credit to firms or individuals. They provide this information service to banks, merchants and credit associations. They determine the value of assets of persons seeking loans.|
|Duties:||They statistically analyze the assets, debts and market values of properties as reported by persons seeking loans and mortgages from banks and financial institutions.
Determine the maximum amount of monies that should be loaned to an individual based upon an analysis of their financial soundness and their income.
They determine the maximum mortgage that should be provided to the client for properties they wish to buy. They decide what the market value would be if the person defaults on the mortgage.
They conduct investigations of clients whose financial background appear risky. They may contact employers and other individuals who the client claims as a resource for income.
A.A.S. Management: Marketing Concentration
A.S. Business Administration (Accounting and Marketing)
|Job Outlook:||Employment of credit analyst is expected to grow as fast as average through 2018. While new technology has made loan processing and credit checks more efficient, lenders want closer scrutiny of applicants by analysts. Good prospects for jobs should result from many retirees.|
|Salary Range (National Average):||$30,000 to $37,000|
|Education Level:||Training for this occupation generally requires an Associate Degree from a 2 year or community college.|
|Additional Training/Education:||An associate degree in applied business management is the usual educational background required for entry positions in this occupation. However, since the credit analyst job is usually a stepping stone for loan officer positions in financial institutions, it would be wise to work towards a bachelor's degree in finance or business administration. Courses in computer-based financial analysis are essential.|
* National data collected by the Department of Labor in 2014 with projections through 2024. For New York green job information .
Understanding acquiring positions in this field may be enhanced through continuing academic study (i.e. earning a baccalaureate or a master's degree) and/or work experience in the field, Queensborough Community College has established transfer agreementswith other institutions for students who wish to further pursue their educational goals. Students are highly encouraged to meet with one of our Career Services to fully understand the opportunities available through study in their degree program.